BALTIMORE (Stockpickr) -- Mr. Market bounced hard on Friday, the S&P 500 rallying 1.65% as buyers flooded back into stocks. The buying power was enough to put the S&P at a gain for the week --- but just barely.
So now that the buyers have asserted themselves, should you be a buyer here?
My answer is "yes," but with a caveat. First of all, Friday's bounce happened on no news. But there was still some major significance for the move: it coincided with the trendline support level that's been in place since the start of June. Since that near-term bottom, the S&P has climbed a very impressive 6.16%, carving out a well defined bottom in the big index. That makes the buying end of the market look pretty attractive right now.
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